The Great Generational Heist: How Boomers are Cheering for a Housing Crash That Will Destroy Millennials

Listen closely and you can hear the champagne glasses clinking in the Bridle Path and West Vancouver. As the Canadian housing market finally begins its long-overdue plunge, a generation of wealthy Boomer homeowners are privately celebrating. They see it as a "healthy correction," a return to sanity. But for millions of Millennials and Gen Z who bought into this fraudulent market at its peak, it’s not a correction; it’s a catastrophe. It’s the final, brutal act of the greatest inter-generational wealth heist in modern history.

For years, the Boomer generation has presided over a system that treated housing as a get-rich-quick scheme. They voted for politicians who blocked new housing supply, fought against density in their neighbourhoods, and benefited from tax policies that turned their primary residences into untaxed lottery winnings. They pulled up the ladder behind them, creating a bubble of such epic proportions that their own children and grandchildren had to in debt themselves for life just to get a foot in the door.

Now that the bubble is bursting, who pays the price? Not the Boomers who bought their homes for five-figures and are sitting on millions in equity. It’s the young families who, encouraged by rock-bottom interest rates and a fear of being priced out forever, bought a modest townhouse for a million dollars and are now watching their life savings evaporate. They are facing financial ruin, trapped in negative equity while the generation that caused the crisis tut-tuts about their "risky investments." This isn't a market correction; it's a massacre, and the generational resentment it’s creating will poison this country for decades.